1960s in Hong Kong continued with the development and expansion of manufacturing that began in the previous decade. The economic progress made in the period would categorise Hong Kong as one of Four Asian Tigers along with Singapore, South Korea, and Taiwan.
Hong Kong’s population in the 1960s is estimated at 3 million. Half of the population was under the age of 25 and the group became Hong Kong’s baby boom generation. The surge of refugees continued to come in from China.
Economically, this era is considered a major stepping stone for Hong Kong. It is considered the first turning point for Hong Kong’s economy. The per capita GDP was still relatively low in 1960. It was approximately the same as Peru, South Africa and Greece in the same decade. By comparison, Argentina had two times and Venezuela had three times the GDP of Hong Kong.
The living standard was rising steadily, but low wages continued. The number of registered factories increased from 3,000 in 1950s to 10,000 in 1960s. Registered foreign companies increased from 300 to 500. There were demands for labour in every sector of the economy.
These fascinating color photos from emmdee that captured street scenes of Hong Kong in 1964.
Leave a Reply